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Bihar Startup Policy 2024:- was launched in Bihar by Syed Shahnawaz Hussain. This policy is launched to encourage young entrepreneurs in the state of Bihar. This policy will help the Handloom industry, the clothing industry, and the handicrafts industries in relation to benefit of villages. In this policy, a young youth League gets a fund of rupees 10 lakh which will be without interest for a period of 10 years.
Today this article will provide you with all the essential information about the Bihar Startup Policy such as the process, objective, highlights, timelines, benefits, features, eligibility criteria, important documents, etc. apart from this we will also provide you with how to apply under this policy. If you want to grab all this information you have to read our article attentively till the end.
Table of Contents
Bihar Startup Policy 2024
Bihar Startup Policy was launched in Bihar by Syed Shahnawaz Hussain. Syed Shahnawaz Hussain was the industry minister of Bihar. He launched this policy to encourage young entrepreneurs or individuals in the state of Bihar. Through this policy, youth will be provided rupees 10 lakh which may be without interest for a period of 10 years.
The main focus of this policy is on the handloom industry, clothing industry and handicraft industries in relation to the benefit of villages. Normal women entrepreneurs will get 10 lakh fifty thousand rupees, as well as women of ST categories, will get benefits of around 11 lakh 50 thousand rupees.
Highlights of Bihar Startup Policy
The highlights of this policy are given below:-
| Name of the Policy | Bihar Startup Policy |
| Launched by | Syed Shahnawaz Hussain (Industry Minister of Bihar) |
| Launched on | 29 July 2022 |
| Under | State Government of Bihar |
| Objective | To provide loans to young entrepreneurs. |
| Benefit | To boost entrepreneurship in the state |
| Form of Benefit | The amount will be provided |
| Amount off policy | 10 lakh |
| The amount for essay categories women | 11 lakh 50,000 |
| Periods | 10 years |
| Startup policy on | 29 July |
| Additional percentage | 2% |
| Additional percentage for women | 5% |
| Beneficiaries | All young Entrepreneurs from the state of Bihar |
| Mode of transfer | DBT ( direct benefit transfer) |
| Mode of application | online |
| Official website | www.startup.indbih.com |
Bihar Startup Policy 2024 Objective
The main objective of the Bihar Startup Policy is to encourage young entrepreneurs in the state of Bihar. Under this policy, you will be provided with a loan of rupees 10 lakh. This policy is launched to improve employment in the state of Bihar. Those youth who want to do their business can take advantage of this policy. The period of this loan is 10 years without any interest but after 10 years you have to give the interest.
One more objective of this policy is to help women entrepreneurs who want to do their own work but they don’t have money. On the basis of this government has taken out this policy to help those women. Women entrepreneurs will get special benefits. They will get rupees of 10 lakh fifty thousand and women of SC/ ST caste will get 11 lakh fifty thousand.
मुख्यमंत्री स्नातक कन्या प्रोत्साहन योजना
Startup Certification
Those applicants who want to avail of this scholarship have to go through a preliminary examination by a committee set up by the trust headed by the principal secretary of, the industries Department. After the exam list of selected students will be approved by the trust.
Benefit of Bihar Startup Policy 2024
The benefit of this policy is given below:-
- Bihar Startup Policy was launched by Syed Shahnawaz Hussain, the industry minister of Bihar.
- It is launched under the state government of Bihar.
- This policy is launched to increase the growth of the MSMEs Sector in Bihar.
- This policy will encourage entrepreneurship in the state of Bihar.
- The youth of Bihar will get a loan of 10 lakh without interest for 10 years.
- This loan will help them to set up their own business.
- Under this policy, the incentive of 5% will be provided to female entrepreneurs.
- In addition, they will be provided at an amount of Rs 3 lakh for business for those who will participate in ‘rigorous training for product improvement in finance.
- This policy is creating a startup platform for youngsters to improve the literacy rate in the state of Bihar.
- Women entrepreneurs also get benefits under this policy.
Features of Bihar Startup Policy 2024
The features of this policy are given below:-
- Bihar Startup Policy was launched by Syed Shahnawaz Hussain, The industry minister of Bihar.
- This policy was launched on 29 July 2022.
- Bihar’s startup policy was launched under the state government of Bihar.
- This policy is launched for young entrepreneurs to set up their own businesses.
- The amount of rupees 10 lakh will be provided as a loan.
- The amount will be provided without interest for a period of 10 years.
- The organisation will also provide an initiative of 3 lakh rupees.
- Normal women will get 10 lakh fifty thousand to start their business.
- Women of SC/ ST Cost will be provided 11 lakh fifty thousand.
- Interested youth can apply for this policy.
Eligibility Criteria
The applicant must have to follow the following eligibility criteria to apply:-
- The applicant must be a resident of the state of Bihar.
- Youth from every caste can apply for this scholarship.
- Only those who want their business are eligible for this scholarship.
Important Documents
Some of the important documents required for the scholarship are given below:-
- Valid email ID
- Mobile number linked with Aadhar
- Passport size photo state
- Aadhar Card and PAN card
- Caste certificate
- Educational qualification certificate
- Balance Sheet
- Script of given format free with details and signature
Procedure To Apply Online Under Bihar Startup Policy 2024
- First, visit the Official Website of this policy.
- The home page will appear in front of you
- Now click on the Register option.
- A new page will appear on the screen
- Read all the instructions carefully and scroll down.
- After that, you will see an application form in two languages: Hindi and English.
- Choose your language as per your choice.
- After that, the Registration Form will appear on the screen.
- Fill all the details carefully in the application form
- Check the details carefully and click on the submit option.
- Your registration form is successfully completed.
- Take a printout of the application form.